Weekly chart here
The daily chart shows a double bottom, with a huge divergence on momentum indicators.
Considering the way the weekly charts moves, I would say a correction to the larger downtrend is highly probably. However, I believe that there is more downside coming in a few weeks. I expect the daily double bottom to play out and offer a better shorting opportunity. Till then, I am long this market.
The daily chart shows a double bottom, with a huge divergence on momentum indicators.
Considering the way the weekly charts moves, I would say a correction to the larger downtrend is highly probably. However, I believe that there is more downside coming in a few weeks. I expect the daily double bottom to play out and offer a better shorting opportunity. Till then, I am long this market.
